Binance Halts KDA Deposits/Withdrawals Ahead of Network Upgrade
1min read Binance, a prominent global cryptocurrency exchange, has declared that it will temporarily halt deposits and withdrawals for Kadena (KDA) tokens. This measure is in anticipation of an upcoming network upgrade and hard fork scheduled for March 18, 2025, at 00:00 (UTC). The suspension will commence at 23:00 (UTC) on March 17, 2025, with the estimated block height for the upgrade set at 5,659,280.
This precautionary step is aimed at safeguarding the security and stability of user funds during the network upgrade. Binance has assured its users that trading activities will not be disrupted by this temporary halt. The exchange will resume KDA deposits and withdrawals once the network upgrade is successfully completed and stabilized.
The Kadena network upgrade is a pivotal event for the blockchain community, focusing on enhancing the network's performance, security, and scalability. Binance's support for this upgrade underscores its dedication to providing a reliable and secure trading environment for its users. The exchange has a track record of supporting network upgrades and hard forks for various cryptocurrencies, ensuring uninterrupted trading for its users.
This announcement is part of Binance's continuous efforts to uphold the integrity and security of its platform. By suspending deposits and withdrawals during the upgrade, Binance is taking proactive measures to protect user funds and ensure a seamless transition for the Kadena network. Users are encouraged to plan their transactions accordingly and stay updated with the exchange's official announcements regarding the resumption of KDA deposits and withdrawals.
